Assistant Commissioner of Income tax, V. The Janlaxmi Co-operative Bank Ltd, Nashik

ITA 2993/PUN/2016

• Counselvise Citation: [2019] 118 COUNSELVISE.COM (IT) 5864 (ITAT-PUNE)
• Duration Of Justice: 2 year(s) 1 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 31-01-2019
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: A
• Assessment Year: 2010-2011
• Appeal Filed On: 30-12-2016
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: SHABANA PARVEEN
• Section: 143(3); 263

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL A BENCH, PUNE . , , , BEFORE SHRI D. KARUNAKARA RAO, AM AND SHRI VIKAS AWASTHY, JM . / ITA NO . 29 93 /P U N/201 6 / ASSESSMENT YEAR : 20 1 0 - 11 THE ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE 1, NASHIK ....... / APPELLANT / V/S. THE JANLAXMI CO - OPERATIVE BANK LTD., SAMRUDDHI, GADKARI CHOWK, NASHIK 422002 PAN : AAAAT3312K / RESPONDENT ASSESSEE BY : SMT. DEEPA KHARE REVENUE BY : MS. S HABANA PARVEEN / DATE OF HEARING : 3 1 - 01 - 2019 / DATE OF PRONOUNCEMENT : 31 - 01 - 201 9 / ORDER PER VIKAS AWASTHY, JM : TH IS APPEAL BY THE REVENUE IS DIRECTED AGAINST THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS) - 1, NASHIK DATED 03 - 10 - 2016 FOR THE ASSESSMENT YEAR 20 1 0 - 11. 2 ITA NO .29 93 /PUN/2016, A.Y. 201 0 - 11 2. SMT. DEEPA KHARE APPEARING ON BEHALF OF THE ASSESSEE/RESPONDENT SUBMITTED AT THE OUTSET THAT THE PRESENT APPEAL IS EMANATING FROM THE ASSESSMENT ORDER PASSED CONSEQUENT TO THE ORDER OF COMMISSIONER OF INCOME TAX U/S. 263 O F THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS THE ACT ). THE ASSESSEE IN ITA NO. 1955/PN/2014 FOR ASSESSMENT YEAR 2010 - 11 HAD CHALLENGED THE REVISION ORDER DATED 24 - 09 - 2014 PASSED U/S. 263 OF THE ACT. THE TRIBUNAL VIDE ORDER DATED 20 - 05 - 2016 SET ASIDE THE ORDER OF COMMISSIONER OF INCOME TAX PASSED U/S. 263 AND ALLOWED THE APPEAL OF ASSESSEE. SINCE, THE REVISION ORDER ITSELF HAS BEEN SET ASIDE BY THE TRIBUNAL , THE SUBSEQUENT PROCEEDING ARISING THERE FROM DOES NOT SURVIVE. THE PRESENT APPEAL FILED BY THE DEPARTMENT IS MERELY AN ACADEMIC EXERCISE. 3. MS. SHABANA PARVEEN REPRESENTING THE DEPARTMENT FAIRLY ADMITTED THAT TH E TRIBUNAL IN ASSESSEES APPEAL IN ITA NO. 1955/PN/2014 (SUPRA) HAS SET ASIDE THE ORDER OF COMMISSIONER OF INCOME TAX PASSED U/S. 263 OF THE ACT. 4. BOTH SIDES HEARD. THE DEPARTMENT IN PRESENT APPEAL HAS ASSAILED THE ORDER OF COMMISSIONER OF INCOME TAX (APPEALS) IN DELETING THE ADDITION OF RS.2,64,59,614/ - MADE IN ASSESSMENT PROCEEDINGS U/S. 143(3) R.W.S. 263 OF THE ACT, I.E. CONSEQUENT TO THE ORDER OF COMMISSIONER OF INCOME TAX IN REVISION PROCEEDINGS. WE OBSERVE THAT THE COMMISSIONER OF INCOME TAX (A PPEALS) HAS DELETED THE ADDITION AFTER CONSIDERING THE ORDER OF TRIBUNAL IN ITA NO. 1955/PN/2014 (SUPRA) , WHEREBY THE TRIBUNAL HAD SET ASIDE THE ORDER OF COMMISSIONER OF INCOME TAX DATED 24 - 09 - 2014 PASSED U/S. 263 OF THE ACT. ONCE, THE REVISION ORDER HAS BEEN SET AT NAUGHT, THE SUBSEQUENT PROCEEDINGS ARISING THERE FROM DOES NOT SURVIVE. WE DO NOT FIND ANY 3 ITA NO .29 93 /PUN/2016, A.Y. 201 0 - 11 INFIRMITY IN THE IMPUGNED ORDER. ACCORDINGLY, THE SAME IS UPHELD AND THE APPEAL OF REVENUE IS DISMISSED BEING DEVOID OF ANY MERIT. 5. IN THE RESULT, THE APPEAL OF REVENUE IS DISMISSED. ORDER PRONOUNCED ON THURSDAY, THE 31 ST DAY OF JANUARY, 201 9 . SD/ - SD/ - ( . /D. KARUNAKARA RAO ) ( / VIKAS AWASTHY) / ACCOUNTANT MEMBER / JUDICIAL MEMBER / PUNE; / DATED : 31 ST JANUARY, 201 9 RK / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT. 2. / THE RESPONDENT. 3. ( ) / THE CIT(A) - 1, NASHIK 4. THE PR. COMMISSIONER OF INCOME TAX - 1, NASHIK 5. , , , / DR, ITAT, A BENCH, PUNE. 6. / GUARD FILE. / / // TRUE COPY// / BY ORDER, / PRIVATE SECRETARY, , / ITAT, PUNE